Dr. Cassiel Ato Forson, Ghana’s Finance Minister, has credited the Gold Board (GoldBod) with playing a key role in stabilizing the Ghana cedi.
Speaking at the inauguration of the first GoldBod board, Dr. Forson announced that the initiative is already showing positive results.
“Distinguished members of the board, I am pleased to observe that the Gold Board has begun to fulfill its objective,” Dr. Forson said.
“It has contributed immensely to the recent stability of the Ghana cedi through the accumulation of gold reserves and gold buy-in activities”, he added.
He revealed that as of May 13, 2025, the Ghana cedi has become one of the best-performing currencies globally.
He stressed that the cedi appreciated by 16.7% against the US dollar year-to-date.
“For the first three months of 2024, the currency lost 13.4% of its value against the dollar. Today, we are witnessing a strong reversal with a 16.7% gain in the same period this year,” Dr. Forson explained
He added that this is a remarkable turnaround compared to the same period in 2024, when the cedi depreciated by 13.4%.
“This marks a significant reversal from the 13.4% depreciation observed in the same period in 2024. For 2024, from January to March 13th, the currency depreciated by 13.4%. Today we are seeing a reversal, 16.7% at the same period”
Source : www.kumasimail.com /Kwadwo Owusu
